Tether invests $2 million in Arcanum Capital's tokenized investment tool

ChainCatcher news, according to Cointelegraph, the stablecoin issuer Tether has invested in Arcanum Capital's Arcanum Emerging Technologies Fund II with its first crypto venture capital fund, which is a tokenized investment tool focused on decentralized Web3 projects, with an investment amount of $2 million.

James McDowall, managing partner of Arcanum Capital, revealed that the fund focuses on investing in blockchain technologies that can enhance remittances, cross-border payments, privacy protection, and provide banking services to the unbanked population. Tether's CEO Paolo Ardoino emphasized in an interview that the common goal of Tether and the fund is to overcome review resistance and promote open communication.